Ogier Global supports Soilbuild on £73.5 million UK retail park joint venture

Ogier Global has supported Soilbuild Group Holdings Limited on its investment, alongside NewRiver REIT plc and United Engineers Limited, in a new UK retail park joint venture.

The joint venture acquired The Springs, Leeds, as its first asset for £73.5 million and will provide a scalable platform for further investments. The transaction marks Soilbuild' Group Holdings Limited's (Soilbuild) expansion into the UK retail park sector and the launch of a new cross-border investment platform, which brings together Singapore investment with established UK operating expertise.
 
Ogier Global's specialist Real Estate Fund Administration team supported Soilbuild with the establishment of the investment structure and the special purpose vehicles (SPVs), coordination of transaction workstreams and the review and adoption of corporate and transaction documentation. Ogier Global’s UK real estate directorship experts are also providing UK-resident professional directorship services to the joint-venture-holding and property-owning vehicles and will continue to provide board level governance representation.
 
The Real Estate Fund Administration team was led by James Philpott, director, Jersey and the UK team was led by Stuart Watson, managing director, Ogier Global, UK.
 
James Philpott said: "We are thrilled to have supported Soilbuild with its investment in this exciting new UK retail park platform. The transaction builds on our longstanding relationship with Soilbuild and demonstrates how our specialist real estate fund administration team can provide practical administration and governance support, through a combination of transaction execution, administration and financial reporting, as clients expand into new markets and asset classes.”
 
Lim Han Qin, director at Soilbuild Group Holdings Limited, said: "The launch of this partnership marks a significant milestone in the growth of our UK retail portfolio, a sector which aligns firmly with our broader real estate strategy, to undertake scalable investments into high-quality assets with growing cashflows."
 
Ogier Global continues to support Soilbuild's wider UK real estate strategy through the provision of administration, governance, tax compliance and financial reporting services.